1. Field of the Invention
This invention relates to a method and system of procuring advertising space in media, such as printed publications, billboards, radio, television, videos, web pages, portals and the like.
2. Description of the Prior Art
Advertisement space is generally marketed by the media to prospective advertisers. The advertisement space is usually offered at a price that may or may not be negotiable, especially in a large market or market of upscale customers. Thus, the advertiser is often a buyer in a seller's market. With the advent of the Internet and the World Wide Web (Web), a variety of advertising techniques have become known. Some of these techniques involve the delivery of specific advertisements to specific customers as described, for example, in U.S. Pat. Nos. 5,636,346, 6,009,410 and 6,182,050 B 1. Other techniques involve the scheduling and delivery of advertisements as described, for example in U.S. Pat. Nos. 5,105,184, 5,937,392, 5,999,912, 6,009,409, 6,026,371 and 6,029,045. Online trading systems are also known as described, for example, in U.S. Pat. Nos. 5,890,138, 5,966,699, 6,085,169 and 6,058,417. These systems generally manage online auctions of various products or services. However, none of the above-described online trading systems are directed to the selling or buying of advertising space.
Under the current advertisement procurement system, there are also many constraints on an advertiser's ability to locate media outlets in which to advertise. This is especially true for advertisers wishing to broadly reach across local or rural communities through the smaller media outlets. The present invention, for the first time, provides prospective advertisers with a system for one-stop-shopping for under-used or hard-to-find media outlets and at the same time naming the price at which they are willing to explore advertising in those markets. Similarly, the present invention, for the first time, provides those same media outlets a system for reaching and negotiating with new prospective clients.